Job Growth Slows in March but Employment Indicators for the 55+ Hold Steady

  Employment Overview The Bureau of Labor Statistics (BLS) March Employment Situation Summary showed that after a strong February with the strongest jobs growth since July 2016, hiring slowed down in March. The economy added 103,000 jobs and the labor force participation rate was down slightly at 62.9 percent.  For the sixth consecutive month, the overall unemployment rate was 4.1 percent. Meanwhile, many employment indicators for those ages 55 and older remained unchanged from February.  The unemployment rate for people …

Economy Adds 313,000 Jobs in February

Employment Overview February 2018 was the strongest month for jobs growth since July 2016, with 313,000 jobs added to the economy. Despite this growth, the Bureau of Labor Statistics (BLS) February Employment Situation Summary showed that the unemployment rate for people ages 55 and older increased from 3 percent in January to 3.2 percent in February. The number of unemployed persons ages 55+ also increased, to 1.2 million, up from 1.1 million in January. The percentage of 55+ jobseekers considered …

Several employment indicators for those ages 55+ improve in January

  Employment Overview According to the Bureau of Labor Statistics (BLS) January Employment Situation Summary, the unemployment rate for persons 55 and older decreased from 3.3 percent in December to 3.0 percent in January. The number of unemployed persons ages 55+ also decreased to 1.1 million, down from 1.2 million in December. The percentage of 55+ jobseekers considered long-term unemployed (those job searching for 27 weeks or more) declined from 30.6 percent in December to 24.8 percent in January. Overall …

Unemployment rate for those ages 55+ increases in December

  Employment Overview The Bureau of Labor Statistics (BLS) December Employment Situation Summary showed the economy added 148,000 jobs in December 2017—a decrease from the 252,000 jobs (revised up from 228,000) added in November. Jobs were added in the health care, construction, and manufacturing industries, and average hourly earnings rose by 0.3 percent, or 9 cents, in December. This compared with a 0.1 percent increase in average hourly earnings in November. Though the overall unemployment rate remained unchanged at 4.1 …

Employment for those ages 55+ holds steady in November

Employment overview The Bureau of Labor Statistics (BLS) November Employment Situation Summary showed the economy added 228,000 jobs—down slightly from the 244,000 jobs added in October (revised down from 261,000). Both the overall unemployment rate and the unemployment rate for persons 55 and older remained unchanged from October at 4.1and 3.1 percent, respectively. The number of unemployed individuals ages 55+ was also unchanged at 1.1 million and the labor force participation rate for those 55 and older increased slightly to …

Job market rebounds in October

  Employment overview After the strong impact of hurricanes Harvey and Irma in September, the job market rebounded in October, adding 261,000 jobs. Meanwhile, the labor force participation rate for those ages 55 and older decreased slightly to 39.8 percent. While the Bureau of Labor Statistics (BLS) October Employment Situation report showed the overall unemployment rate was down to 4.1 percent, it also showed a decline in the overall labor force participation rate (62.7 percent).  The employment rate (employment-population ratio) …